Global insurance RegCentre
Changing regulatory landscapes put significant pressure on insurers across the globe, who must meet the latest requirements as well as policyholder needs, and keep business models up to date. At Forvis Mazars, we understand that having access to quality information and interpretation is crucial for helping our insurance clients comply with rigorous new regulatory expectations.
As a centre of expertise on regulatory developments and challenges, our global insurance regulatory centre is committed to sharing knowledge to support insurance clients meet the expectations of international regulators. In the face of growing obligations, like International Financial Reporting Standards (IFRS), Environmental Social and Governance (ESG) requirements and modelling changes, our goal is to help you reconcile regulatory and business objectives.
Our collaborative approach and international perspective mean we can identify emerging trends, hot topics and specific policy changes country-by-country. We can leverage our expertise to provide forward-looking opinions and insight on the ever-changing world of insurance supervision.
By sharing our insight, publications, and research, our global insurance regulatory centre can support senior-level leaders in making informed decisions. Our regulatory analysis of key insurance matters is distributed through various channels, allowing you to engage however best suits your needs:
· Thought leadership articles
· Technical analysis
· Research on regulations impacting (re)insurers
· Social media alerts
· Quarterly newsletters
A selection of our recent contributions on key insurance regulatory issues are linked below.
Stay informed and ahead of the curve with our comprehensive quarterly newsletters. Each edition is meticulously crafted to bring you the most current and impactful updates in the Financial Services regulatory landscape globally.
Forward thinking solutions to help you succeed in a transforming market
As the impacts of climate risks become more pronounced, regulators and the insurance industry are under increasing pressure to refine risk assessment frameworks. This article examines regulatory developments, a critical review of climate scenarios and limitations of models within the insurance sector, the implications of new regulatory developments, and the role of actuaries in establishing actionable...
The amended Solvency 2 directive is set to take effect in 2026 following its adoption by the European Council in January 2024. The impact of these amendments on the sector's solvency indicators remains uncertain, influenced by both internal factors like risk profiles and methodological choices, and external factors such as economic conditions and interest rates.
Through the use of internal models, Solvency II regulations allow freedom in modelling dependencies between different risks, products and lines of business. However, this requires the ability to quantify diversification across different scenarios.
The adoption of the European Union’s (EU) Taxonomy regulation marked a significant step forward in the promotion of sustainable investment and the ecological transition. The taxonomy provides a harmonised framework for determining which economic activities can be considered environmentally sustainable.
The EU's taxonomy regulation, adopted to promote sustainable investment, provides a unified framework for identifying environmentally sustainable activities. Insurance companies, crucial in risk management and economic financing, have disclosed their eligible investment and underwriting activities since 2022 under this regulation.
On 17 July, the European Supervisory Authorities (ESAs) published the final texts of the DORA (Digital Operational Resilience Act) regulation. These texts, which are now final, will come into force on 17 January 2025, strengthening digital operational resilience and IT risk management for all financial entities.
The rise of artificial intelligence offers a technological opportunity for insurance companies operating in a saturated market, with complex regulations and a need to differentiate themselves from the competition. However, there are still major challenges to be overcome before AI can be deployed by these players.
In the contemporary landscape of insurance, the business model of open insurance, characterised by the strategic opening of insurers’ resources to external collaborators, has been a focal point of discussion. Unlike the banking sector, where regulatory mandates such as the Payment Services Directive (PSD2) of 2018 have compelled the development of open banking practices, insurers currently lack such...
Mazars recently hosted a Financial Services INED Roundtable Dining Event in Dublin. Over 50 financial services independent non-executive directors (INEDs) attended, from banking, asset management, funds and insurance entities operating across the EU and UK
The regulatory requirements for insurance companies are becoming increasingly complex. In this interview, Marc Böhlhoff and Thomas Volkmer, Partners at Mazars in Germany, discuss the impact of this change on the industry and delve into what it means for the operations of auditing and consulting firms.
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